Bank of America Corp DE Makes New Investment in Sabre Corporation $SABR

Key Points

• Bank of America acquired 910,285 Sabre shares during the second quarter, valued at approximately $1.9 million and representing about 0.23% of the company. Institutional investors and hedge funds collectively own 89.42% of Sabre.
• Sabre reported a quarterly loss of $0.17 per share, missing the $0.04-loss consensus estimate, although revenue of $711.96 million exceeded expectations. Analysts forecast a full-year loss of $0.21 per share.
• Sabre shares opened at $2.12, while analyst sentiment remains mixed: one analyst rates the stock Buy, three rate it Hold, and one rates it Sell, producing an overall “Hold” consensus and a $1.75 price target.

Bank of America Corp DE acquired a new stake in Sabre Corporation (NASDAQ:SABR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 910,285 shares of the information technology services provider's stock, valued at approximately $1,902,000. Bank of America Corp DE owned about 0.23% of Sabre at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. DGS Capital Management LLC bought a new stake in shares of Sabre during the 1st quarter valued at approximately $25,000. Wealthspire Retirement LLC acquired a new stake in Sabre in the first quarter valued at approximately $25,000. Vise Technologies Inc. bought a new stake in shares of Sabre during the second quarter worth $30,000. Allworth Financial LP bought a new position in Sabre in the second quarter valued at about $31,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Sabre during the second quarter valued at about $32,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Sabre Stock Down 0.5%

Shares of NASDAQ SABR opened at $2.12 on Thursday. The firm has a market cap of $855.59 million, a PE ratio of 1.28 and a beta of 1.00. Sabre Corporation has a 12-month low of $0.81 and a 12-month high of $2.50. The company's fifty day simple moving average is $2.10 and its 200 day simple moving average is $1.86.

Sabre (NASDAQ:SABR - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The information technology services provider reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $711.96 million for the quarter, compared to analysts' expectations of $697.40 million. On average, equities analysts predict that Sabre Corporation will post -0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SABR shares. Weiss Ratings lowered shares of Sabre from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Citigroup reaffirmed a "buy" rating on shares of Sabre in a research report on Thursday, August 27th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $1.75.

Sabre Company Profile

Sabre Corporation is a travel technology company that provides software, distribution, and data solutions for the global travel industry. Its platform connects airlines, hotels, travel agencies, corporate travel departments, and other travel suppliers, helping them market, sell, and manage travel services.

The company's products and services include the Sabre Travel Marketplace, a global distribution system that enables travel buyers to search and book air, hotel, car rental, rail, and other travel content.

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